UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 11-K
 þ
    
    ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2010
 OR
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from  to
 Commission File Number: 1-9334
 BALDWIN TECHNOLOGY PROFIT SHARING AND SAVINGS PLAN
  BALDWIN TECHNOLOGY COMPANY, INC.  2 TRAP FALLS ROAD, SUITE 402  SHELTON, CT 06484




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Page(s)Report of Independent Registered Public Accounting Firm
    
    1Financial Statements:Statements of Net Assets Available for Benefits at
December 31, 2010 and 2009
    
    2Statement of Changes in Net Assets Available for Benefits
For the year ended December 31, 2010
    
    3Notes to Financial Statements
    
    4-13Supplemental Schedules: *
Form 5500, Schedule H, Part IV, Line 4i  Schedule of Assets
(Held at End of Year) at December 31, 2010
    
    14Form 5500, Schedule H, Part IV, Line 4a  Schedule of Delinquent Participant
Contributions
    
    15Signatures
    
    16Consent of Independent Registered Public Accounting Firm
    
    Exhibit No. 23
 
 *
    
    Other schedules required by 29 CFR 2520.103-10 of the Department of Labor Rules and Regulations
for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been
omitted because they are either not required or not applicable.




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Report of Independent Registered Public Accounting Firm
 
     /s/ McGladrey & Pullen, LLPStamford, ConnecticutJune 29, 2011 1




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December 31,
    
    
    December 31,2010
    
    
    2009Assets:Investments, participant directed
at fair value
    
    $
    11,289,029
    
    
    $
    10,353,811Receivables:Notes receivable from participants
    
    
    65,049
    
    
    
    71,264Employers contributions
    
    
    
    
    
    
    2,951Participants contributions
    
    
    3,000
    
    
    
    9,842Total receivables
    
    
    68,049
    
    
    
    84,057Total Assets
    
    
    11,357,078
    
    
    
    10,437,868Liabilities:Excess contributions refundable
    
    
    17,680
    
    
    
    32,278Net assets available for benefits
at fair value
    
    
    11,339,398
    
    
    
    10,405,590Adjustment from fair value to
contract value for investments in
common collective trust fund
related to fully benefit-responsive
investment contracts
    
    
    35,294
    
    
    
    96,504Net assets available for benefits
    
    $
    11,374,692
    
    
    $
    10,502,094
  2




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Year EndedDecember 31, 2010Contributions:Participants contributions
    
    $
    396,436Rollover of assets from affiliated entitys plan
    
    
    17,795Rollover contributions
    
    
    67,738481,969Investment income:Interest
    
    
    3,713Dividends
    
    
    187,223Net appreciation in fair value of investments
    
    
    1,046,7691,237,705Total additions
    
    
    1,719,674Deductions:Benefits paid to participants
    
    
    846,580Administrative expenses
    
    
    496Total deductions
    
    
    847,076Net increase
    
    
    872,598Net assets available for benefits:Beginning of year
    
    
    10,502,094End of year
    
    $
    11,374,692
  3




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BALDWIN TECHNOLOGY
PROFIT SHARING AND SAVINGS PLAN
NOTES TO FINANCIAL STATEMENTS
   General
  Eligibility
  Plan Amendment
  Contributions
    4




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Vesting
  Full years of
    
    PercentVesting Service
    
    VestedLess than 2 years
    
    
    0
    %2 but less than 3 years
    
    
    20
    %3 but less than 4 years
    
    
    40
    %4 but less than 5 years
    
    
    60
    %5 but less than 6 years
    
    
    80
    %6 or more years
    
    
    100
    %
  Withdrawals and Distributions
    Participant Loans
  5




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Forfeitures
   Basis of Accounting
   New Accounting Pronouncements
    6




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Investment Valuation and Income Recognition
   Fair Value Measurement and Disclosures,
 
    
    Level 1  Inputs to the valuation methodology are unadjusted quoted prices for
identical assets or liabilities in active markets that the plan has the ability to access.
    
    Level 2  Inputs to the valuation methodology include (i) quoted prices for
similar assets or liabilities in active markets; (ii) quoted prices for identical or
similar assets or liabilities in inactive markets; (iii) inputs other than quoted prices
that are observable for the asset or liability; (iv) inputs that are derived principally
from or corroborated by observable (from sources independent of the reporting entity)
market data by correlation or other means. If the asset or liability has a specific
(contractual) term, the level 2 input must be observable for substantially the full term of
the asset or liability.
    
    Level 3  Inputs to the valuation methodology are unobservable (best
information available, which might include the entitys own data) and significant to the
fair value measurement.
   7




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Mutual Funds
  Common/Collective Trust
  Administration
  Administrative Expenses
  Use of Estimates
  Benefit obligations to participants
  Risks and Uncertainties
  8




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Assets at Fair Value as of December 31, 2010Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalMFS Total Return Fund/Common Stock & Bonds
    
    $
    938,766
    
    
    $
    
    
    
    $
    
    
    
    $
    938,766MFS Massachusetts Investors Trust / Common Stock
    
    
    1,422,281
    
    
    
    
    
    
    
    
    
    
    
    1,422,281MFS Emerging Growth Fund / Common Stock
    
    
    1,534,549
    
    
    
    
    
    
    
    
    
    
    
    1,534,549MFS Global Equity Fund / Equities
    
    
    1,402,357
    
    
    
    
    
    
    
    
    
    
    
    1,402,357PIMCO Total Return Fund / Bonds
    
    
    1,206,041
    
    
    
    
    
    
    
    
    
    
    
    1,206,041Van Kampen Strategic Growth Fund / Common Stock
    
    
    582,014
    
    
    
    
    
    
    
    
    
    
    
    582,014MFS Mid-Cap Growth Fund / Common Stock
    
    
    695,482
    
    
    
    
    
    
    
    
    
    
    
    695,482Munder Index 500 Fund / Common Stock
    
    
    131,228
    
    
    
    
    
    
    
    
    
    
    
    131,228Neuberger Berman Genesis Advisor Fund/Common Stock
    
    
    930,955
    
    
    
    
    
    
    
    
    
    
    
    930,955Van Kampen Common Stock Fund / Common Stock
    
    
    328,472
    
    
    
    
    
    
    
    
    
    
    
    328,472Conservative Allocation Fund / Common Stock
    
    
    67,939
    
    
    
    
    
    
    
    
    
    
    
    67,939Moderate Allocation Fund / Common Stock
    
    
    254,930
    
    
    
    
    
    
    
    
    
    
    
    254,930Growth Allocation Fund / Common Stock
    
    
    81,997
    
    
    
    
    
    
    
    
    
    
    
    81,997Aggressive Growth Allocation Fund / Common Stock
    
    
    116,535
    
    
    
    
    
    
    
    
    
    
    
    116,535MFS Institutional Fixed Fund / Collective
Investment Trust
    
    
    
    
    
    
    1,459,198
    
    
    
    
    
    
    
    1,459,198Baldwin Stock Fund / Common Stock
    
    
    
    
    
    
    136,285
    
    
    
    
    
    
    
    136,285Total assets at fair value
    
    $
    9,693,546
    
    
    $
    1,595,483
    
    
    $
    
    
    
    $
    11,289,029
 9




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Assets at Fair Value as of December 31, 2009Level 1
    
    
    Level 2
    
    
    Level 3
    
    
    TotalMFS Total Return Fund/Common Stock & Bonds
    
    $
    956,278
    
    
    $
    
    
    
    $
    
    
    
    $
    956,278MFS Massachusetts Investors Trust / Common Stock
    
    
    1,386,893
    
    
    
    
    
    
    
    
    
    
    
    1,386,893MFS Emerging Growth Fund / Common Stock
    
    
    1,317,431
    
    
    
    
    
    
    
    
    
    
    
    1,317,431MFS Global Equity Fund / Equities
    
    
    1,182,595
    
    
    
    
    
    
    
    
    
    
    
    1,182,595PIMCO Total Return Fund / Bonds
    
    
    1,046,996
    
    
    
    
    
    
    
    
    
    
    
    1,046,996Van Kampen Strategic Growth Fund / Common Stock
    
    
    661,372
    
    
    
    
    
    
    
    
    
    
    
    661,372MFS Mid-Cap Growth Fund / Common Stock
    
    
    424,136
    
    
    
    
    
    
    
    
    
    
    
    424,136Munder Index 500 Fund / Common Stock
    
    
    88,799
    
    
    
    
    
    
    
    
    
    
    
    88,799Neuberger Berman Genesis Advisor Fund/Common Stock
    
    
    701,473
    
    
    
    
    
    
    
    
    
    
    
    701,473Van Kampen Common Stock Fund / Common Stock
    
    
    283,105
    
    
    
    
    
    
    
    
    
    
    
    283,105Conservative Allocation Fund / Common Stock
    
    
    57,105
    
    
    
    
    
    
    
    
    
    
    
    57,105Moderate Allocation Fund / Common Stock
    
    
    202,972
    
    
    
    
    
    
    
    
    
    
    
    202,972Growth Allocation Fund / Common Stock
    
    
    54,287
    
    
    
    
    
    
    
    
    
    
    
    54,287Aggressive Growth Allocation Fund / Common Stock
    
    
    27,536
    
    
    
    
    
    
    
    
    
    
    
    27,536MFS Institutional Fixed Fund / Collective
Investment Trust
    
    
    
    
    
    
    1,818,708
    
    
    
    
    
    
    
    1,818,708Baldwin Stock Fund / Common Stock
    
    
    
    
    
    
    144,125
    
    
    
    
    
    
    
    144,125Total Assets at fair value
    
    $
    8,390,978
    
    
    $
    1,962,833
    
    
    $
    
    
    
    $
    10,353,811
   Unfunded
    
    
    Redemption
    
    
    RedemptionInvestment
    
    Fair Value
    
    
    Commitment
    
    
    Frequency
    
    
    Notice PeriodMFS Institutional Fixed Fund
(a)
    
    $
    1,459,198
    
    
    $
    0
    
    
    Daily
    
    NoneBaldwin Stock Fund (b)
    
    $
    136,285
    
    
    $
    0
    
    
    Daily
    
    None
 
 (a)
    
    see Note 5(b)
    
    see Note 2   10




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2010Based on annualized earnings (1)
    
    
    2.33
    %Based on interest rate credited to participants (2)
    
    
    1.49
    %
 
 (1)
    
    Computed by dividing the annualized one-day actual earnings of the contract
on the last day of the plan year by the fair value of the investments on the same date.(2)
    
    Computed by dividing the annualized one-day earnings credited to participants on
the last day of the plan year by the fair value of the investments on the same date.    11




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December 31,2010
    
    
    2009Investments, at fair value:MFS Institutional Fixed Fund
    
    $
    1,459,198
    
    
    $
    1,818,708MFS Total Return Fund
    
    
    938,766
    
    
    
    956,278MFS Massachusetts Investors Trust
    
    
    1,422,281
    
    
    
    1,386,893MFS Emerging Growth Fund
    
    
    1,534,549
    
    
    
    1,317,431MFS Global Equity Fund
    
    
    1,402,357
    
    
    
    1,182,595Neuberger Berman Genesis Advisor Fund
    
    
    930,955
    
    
    
    701,473Van Kampen Strategic Growth Fund
    
    
    582,014
    
    
    
    661,372Pimco Total Return Fund
    
    
    1,206,041
    
    
    
    1,046,996MFS Mid-Cap Growth Fund
    
    
    695,482
    
    
    
    424,136
    *
 
 *
    
    Represents less than 5% of net assets available for plan benefits as of this date.  Year EndedDecember 31, 2010Mutual Funds
    
    $
    1,046,476Baldwin Stock Fund
    
    
    293$
    1,046,769
       12




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2010
    
    
    2009Net assets available for benefits per
financial statements
    
    $
    11,374,692
    
    
    $
    10,502,094Participants Contribution Receivables
    
    
    (3,000
    )Adjustment between fair value and
contract value related to fully benefit-responsive investment contracts held by
common collective trust funds
    
    
    (35,294
    )
    
    
    (96,504
    )Net assets available for benefits per
Form 5500
    
    $
    11,336,398
    
    
    $
    10,405,590A reconciliation of total contributions per the financial statements for the year ended December
31, 2010 to Form 5500 follows:Total contributions per financial
statements
    
    $
    481,969Participants contribution receivables
    
    
    (3,000
    )Rollover of assets from affiliated entitys plan
    
    
    (17,795
    )Total contributions per Form 5500
    
    $
    461,174A reconciliation of total investment income per the financial statements for the year ended
December 31, 2010 to Form 5500 follows:Total investment income per the
financial statements
    
    $
    1,237,705Adjustment between fair value and
contract value related to fully benefit-responsive investment contracts held by
common collective trust fund
    
    
    61,210Total investment income per Form 5500
    
    $
    1,298,915
 13




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BALDWIN TECHNOLOGY
PROFIT SHARING AND SAVINGS PLAN
SCHEDULE H, LINE 4i  SCHEDULE OF ASSETS (HELD AT END OF YEAR)
AT DECEMBER 31, 2010
 Identity Of Issue/Description Of Investment
    
    Current Value*MFS Institutional Fixed Fund / Collective Investment Trust
    
    $
    1,459,198*MFS Total Return Fund / Common Stock & Bonds
    
    
    938,766*MFS Massachusetts Investors Trust / Common Stock
    
    
    1,422,281*MFS Emerging Growth Fund / Common Stock
    
    
    1,534,549*MFS Global Equity Fund / Equities
    
    
    1,402,357PIMCO Total Return Fund / Bonds
    
    
    1,206,041Van Kampen Strategic Growth Fund / Common Stock
    
    
    582,014*Baldwin Stock Fund / Common Stock
    
    
    136,285*MFS Mid-Cap Growth Fund / Common Stock
    
    
    695,482Munder Index 500 Fund / Common Stock
    
    
    131,228Neuberger Berman Genesis Advisor Fund / Common Stock
    
    
    930,955Van Kampen Common Stock Fund / Common Stock
    
    
    328,472Conservative Allocation Fund / Common Stock
    
    
    67,939Moderate Allocation Fund / Common Stock
    
    
    254,930Growth Allocation Fund / Common Stock
    
    
    81,997Aggressive Growth Allocation Fund / Common Stock
    
    
    116,535Notes receivable from participants
    
    
    65,049Total Assets (Held at End of Year)
    
    $
    11,354,078
 
 *
    
    These represent party-in-interest investments.  14




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BALDWIN TECHNOLOGY
PROFIT SHARING AND SAVINGS PLAN
SCHEDULE H, PART IV, LINE 4a  SCHEDULE OF DELINQUENT PARTICIPANT CONTRIBUTIONS
AT DECEMBER 31, 2010
 Contributions
    
    
    Contributionscorrected
    
    
    pending
    
    
    Total fully correctedContributions not
    
    
    outside of
    
    
    correction in
    
    
    under VFCP andPlan Year
    
    corrected
    
    
    VFCP
    
    
    VFCP
    
    
    PTE 2002-512010 (a)
    
    
    
    
    
    $
    24,029
    
    
    
    
    
    
    
    2009 (b)
    
    
    
    
    
    $
    214,542
    
    
    
    
    
    
    
    Participant contributions transferred late into the plan








$
238,571Total that constitute prohibited non-exempt transactions








$
238,571
 
 (a)
    
    2010 transactions will be corrected in 2011(b)
    
    2009 transactions were corrected in 2010 15




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/s/ John D. LawlorJohn D. Lawlor, Plan AdministratorBaldwin Americas Corporation 16